If you're new to cryptocurrency chances are that you might have heard about Binance Well Binance happens to be one of the fastest growing exchanges for trading cryptocurrencies In just 5 months Binance has managed to scoop up the 10th position among the top volume exchanges The exchange has some particularly strong volume crypto pairs like ETH BTC NEO BTC BNB BTC and GAS BTC Binance has become extremely popular within its short stay due to a number of factors like low trading fees superfast transaction processing very neat interface availability in multiple languages and others Binance was the first cryptocurrency exchange to create its own token which is known as Binance Coin or simply BNB BNB allows you to pay at varying rates within the Binance exchange Binance Features Some of Binance s advertised features include Multiple coin support Binance exchange accepts trading in a number of coins including Bitcoin BTC Ethereum ETH Litecoin LTC Binance Coin BNB High Liquidity Binance offers high and strong liquidity in a variety of cryptocurrency pairs High Performance Extremely Fast Processing Speed Binance enables processing orders at extremely high speeds Its technology is capable of processing approximately 1 4 million orders per second making it a world leader in terms of speed Safety and great stability Binance uses a multi tier and multi cluster system architecture ensuring safety and excellent stability It s for this reason that most users trust the exchange with their digital currencies Multiplatform device support Binance supports web browsers Android iOS HTML5 WeChat PC Mac and other platforms Multilingual Support Binance supports a number of languages like English Chinese Japanese Spanish Russia and Korean Superior technology
Binance is reputed as one of the fastest exchanges on the cryptocurrency market thanks to its superior technology It uses a certified matching engine that is capable of processing approximately 1 4 million orders every single second which is incredibly superfast Led by a strong team Binance was founded by Changpend Zhao who was later joined by Yi He one of the most renowned cryptocurrency evangelists and OKCoin s co founder The entire Binance team consists of highly experienced individuals who are from leading institutions like Morgan Stanley Accenture SBI Group and Nomura Overall the Binance team is run by some of the most reputable developers who all have extensive experience in both cryptofinance and Wallstreet Proven products Binance platform has already been deployed on more than 30 exchanges This is a platform that supports all devices platforms multiple languages and offers a seamless exceptional user experience Easy to use neat and intuitive interface How Does Binance Work Binance consists of two options for trading platforms Basic and Advanced The only difference between the two is that the Basic trading option provides the necessary functions for the average crypto user to begin trading On the other hand the Advanced option provides a much more sophisticated trading interface that is designed for pro traders Let s cover the Basic option The Basic view consists of several charts and graphs including a candlestick chart order books and the trade history
To start trading on Binance you need to first fund your account To fund your account hover to the Funds tab and click on the Deposits Withdrawals link On the Deposits Withdrawals page select which cryptocurrency you would like to fund your account with and click Deposit A public address for the cryptocurrency you wish to deposit will appear This is the address to which you will send the digital currency to Binance recommends depositing either Bitcoin or Ethereum as they are the main currencies with highest number of trading pairs With the funds in your account you can easily trade the currencies How to trade on Binance Assuming you ve already added some funds to your account using the procedure above now you can begin trading To trade head over to the Exchange tab and click either Basic or Advanced If you re new to crypto Basic is the best option for you Next navigate to the right side of the exchange and search the pair you wish to trade Click the pair and here you can easily buy or sell the coins you want Place the amount of coins you want to buy or simply click the percentage based on the funds in your account You will see a successful trade pop up on your screen It s as easy as that What Cryptocurrencies are available on Binance As of writing this there are 242 cryptocurrencies available on Binance Some of them include Bitcoin Ethereium Tron EOS VeChain NEO Verge Ripple ELF Cardano BCC and others You can check out others here https www binance com What are the Methods of Payment on Binance Binance only accepts cryptocurrencies as a method of payment As stated earlier you will need to deposit cryptocurrencies like Bitcoin and Ethereum to your account in order to trade You cannot deposit fiat currency to your Binance account Binance Fees The exchange charges a fee of 0 1 on each trade that you make This makes it a much cheaper alternative to other exchanges If paying via the Binance token then you will enjoy a 50 discount on the trading fees Depositing funds on Binance is absolutely free Withdraw fees vary depending on the digital currency Let s have a look at the withdrawal fees for various digital currencies Binance Coin 1 BNB Bitcoin 0 0005 BTC Ethereum 0 005 ETH NEO Free Litecoin 0 001 LTC Status 1 SNT EOS 0 1 EOS Qtum 0 1 QTM GAS Free Bitcoin Cash USDT 5 USDT Bytom 1 BTM HCash Free HealthCareChain 0 005 HCC Monaco 0 1 MCO District0x 1 DNT OpenANX 0 1 OAX Iconomi 0 1 ICN
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